- Bhutan’s Gelephu Mindfulness City pioneers adoption of digital asset strategic reserves.
- The city plans to set up an advisory panel on digital assets for GMC.
The concept of digital asset strategic reserves is gaining a lot of traction these days. While Vancouver Mayor proposed a Bitcoin-friendly city to safeguard reserves, Satoshi Action Fund announced plans to introduce up to 20 Strategic Bitcoin Reserves bills by multiple US states.
With the Trump election and an anticipation of a larger crypto bull run, global countries are recognizing the potential of adopting digital assets to preserve their reserves. While El Salvador is the first country to adopt Bitcoin as a legal tender, analysts predict 2025 will see few more countries joining it.
Based on the latest announcement, Bhutan-based Gelephu Mindfulness City (GMC) expressed its intention to adopt Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) strategic reserves. The city is Bhutan’s Special Administration Region (SAR) and one of the pioneering jurisdictions to add digital assets to its reserves.
GMC to Focus on Promoting Blockchain and Crypto Adoption
Bhutan’s GMC connects several rapidly growing economies such as India, it serves more than 2 billion people. Promoting and supporting blockchain technology is one of its major goals as part of SAR’s focus on innovation and adoption of advanced technologies.
The enactment of GMC’s “Application of Laws Act 2024,” on Dec 26, 2024, prompted this move by the City. One of these laws include establishing a legal and regulatory framework in GMC for companies exploring and involving digital assets. The city picked BTC, ETH, and BNB for strategic reserves as they are mature, having high market capitalization and deep liquidity.
The city further plans to conduct a meeting in the Kingdom of Bhutan involving government officials and industry leaders across. It will be followed by the formation of an advisory panel on digital assets for GMC. Nonetheless, the city’s digital asset adoption for strategic reserves encourages crypto and blockchain adoption with clear regulations in place.
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